Commercial Metals Company announced Thursday that it has amended its Stockholder Rights Plan to accelerate the final expiration of the rights issued in accordance with the plan to December 6, 2012. The rights had previously been slated to expire on August 1, 2014.
As a result of the amendment, as of the close of business on December 6, 2012, the rights are no longer outstanding and are not exercisable, and the plan has effectively terminated. Stockholders do not need to take any action as a result of this termination. CMC's Board added, however, that "The Board expressly reserves its right to adopt a new stockholder rights plan in the future, if appropriate under the circumstances."